Carlos A. Rodríguez

English

Research Papers in Economics

RUDY IN CHICAGO
Journal of Applied Economics, Vol. V, No. 2 (Nov 2002), I-III
RUDI IN CHICAGO
CARLOS A. RODRêGUEZ
Universidad del CEMA
Rudiger Dornbusch, 1942-2002
Rudiger Dornbusch was one of the few people I know capable of making
a profound impression because of his intelligence and the speed and coherence
of his reasoning. Beyond his knowledge and his contributions to economics,
Rudi was a masterful debater. It was always a pleasure to argue a point with
him, even when he was in the wrong.
It is said that he could be aggressive and sarcastic, which is true, but in
Rudi's case these were virtues enhanced by his intelligence and generosity. It
was impossible to debate with Rudi without learning something, however
heated the discussion and regardless of who was right.
I met Rudi in 1971 at the University of Chicago. He was an active
participant in the Workshop on International Economics, and was in the last
year of his Ph.D. course. At first I could not understand why someone would
wish to present a paper to an audience willing to tear it apart pitilessly. OnceJOURNAL OF APPLIED ECONOMICS
a paper began to be presented, if an error was detected it was impossible to
escape saying ÒthatÕs a very interesting question, let me think about itÓ.
Intermediate positions were never allowed in these presentations: the paper
was either wrong, and the author was forced to recognize his mistakes, or it
was correct and the discussion immediately switched to the exploring of new
lines of thought arising out of the research.
I soon began to enjoy being savaged by extremely intelligent persons such
as Harry Johnson, Robert Mundell, Jacob Frenkel, Michael Mussa, and of
course, Rudi Dornbusch. Aided by his more aggressive personality, Rudi
always played a leading part in this privileged group. It was among these
people and at that workshop that much of the body of economic theory known
as the Monetary Approach to the Balance of Payments was developed.
RudiÕs doctoral dissertation represented great strides in the building of
the new theoretical approach to the balance of payments. By including non-
traded goods he developed the first general equilibrium analysis of the effects
of a devaluation on the real exchange rate.
In the Spring Quarter of 1971 Lloyd Metzler was to deliver a course on
Monetary Open Economy. A deterioration in his health meant he was unable
to do so, and Rudi, in his last year as student, was named as lecturer. This was
RudiÕs first graduate course tought and I was honored to be among that small
group of students. We had to write a paper as a graduation requirement for
presentation during the course. In his typical attitude, Rudi announced
everyoneÕs grades during the last class. In my case he said: ÒCarlos, your
paper was beautiful, what grade do you want?Ó  As a good disciple of  RudiÕs
I had learnt that conceit could be a virtue, and without hesitation I answered
ÒA+Ó That was my highest grade in Chicago!
In 1972 Rudi went to Rochester as a professor. He liked to hold meetings
at his home with students, colleagues and seminar guests. Those in which I
took part always ended at dawn, and inevitably the topic was economics.
Rudi was a great one for staying up through the night, helped by the fact that
he only drank water and enjoyed the company of Ronald Jones, who only
drank tea after dinner.
IIRUDY IN CHICAGO
Rudi was a tireless traveler, and wherever he went he would get in touch
with his former students and friends. He would call up at any time and would
always say Òtell me everything.Ó The seminar began right there. We will miss
him.
III

Rudi in Chicago

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Rudi in Chicago

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